CIMIC wins $312 million contract

Company News

by Kathy Skantzos

Construction company CPB Contractors, a CIMIC Group (ASX:CIM) company, has won a Victorian government design and construction contract that is expected to generate revenue of $312 million for the company.

The contract supports the $11 billion Metro Tunnel Project, the state’s biggest ever investment in public transport, part of the Rail Systems Alliance,

Construction is expected to commence in 2018 and be completed by 2026.

CPB Contractors will deliver all site construction services including civil works, and lead activities for the train and power systems.

Five underground metro tunnel stations will be installed as part of the project, with construction starting in Melbourne.

Shares in CIMIC Group (ASX:CIM) are trading 0.25 per cent higher to $51.77.